Russia's growing use of China's yuan is no threat to the dollar, and it could end up hurting Moscow's economy, think tank says

• Russia's growing use of the yuan could end up backfiring on Moscow, said the Carnegie Endowment for International Peace.
• China's yuan is also unlikely to displace the US dollar in global finance, the think tank added.
• "This means that Beijing can't really help Moscow in its crusade against the dollar."

Russia's growing use of China's yuan could end up hurting Moscow, which won't get help from Beijing in its efforts to weaken the US dollar, according to the Carnegie Endowment for International Peace.

In a recent note, the Washington, DC-based think tank pointed to Russia's reliance on the yuan since Western sanctions last year cut off Moscow from the dollar and euro in the global financial system.